Northgate Information Solutions Share Discussion Threads

[abcd1234] 12/12/2007 16:25

views re poss take out price??

t.i.a

[taffee] 12/12/2007 16:25

ttny

hold ashtead......across the market shares have been slaughtered.....if the credit market was so bad why would someone buy nis and how did bradford and bingly manage to sell their mortgage book for 4.4 billion?

don't believe the spin.hopefully someone lost a packet shorting this.

[abcd1234] 12/12/2007 16:24

Re post 5518 above:

yup...though managed to load up on 'em ;O)

now gone into early auction ...nice

[abergele] 12/12/2007 16:23

hope a lot of you averaged out a bit, feel sorry for those who lost out on fear/nerves this morning...

surely there was something leaked here as it fell so rapidly ,before the good news?

not a holder since a year or so ago...but good luck to those still holding..

[grlz] 12/12/2007 16:22

L2 jus after that RNS was a classic

[thistimenextyear] 12/12/2007 16:21

grlz >> Well although nobody likes to see people loose money after a couple of my shares recently being shorted into the ground - AHT and LOG I can only smile at the thought of burnin bears smoldering ;-))))

Good luck all

[mart12345] 12/12/2007 16:19

wow!! what a difference a bid can make. I am kicking myself for being such a gutless wimp as always and not getting in there at 43p :( bu g g er.
but, congrats to all that are in.

[royaloak] 12/12/2007 16:19

pachandl, and me, best of it was I shorted it earlier, closed, studied this thread more and realised risk reward looked brilliant so bought the shares in my ISA. Just closed, now a nice night ahead.

edit
sorry, meant to say thanks to the guys on this thread.

[grlz] 12/12/2007 16:18

lol those who follow this company have today been greatly rewarded - now the shorters are in a panic

[thistimenextyear] 12/12/2007 16:17

taffee >>> Your absolutely right regarding Ashtead (AHT) as well. Eventually, value will out one way of the other. At 80p performing very strongly and P/E of 6 currently dropping below that in 2008 unless the share price recovers from bear raid over last 3 months can see the same happening there for 120-150p although one could argue the company is worth much more.

Really pleased for all NIS holders. Hope nobody panicked into selling today who is now deeply regretting it.

[pachandl] 12/12/2007 16:15

Best of luck to all - sold out at ave 64.057. Probably best to hold if you got in months ago because I can see a possible offer in the 80p range but I won't look a gift horse in the mouth. I won't be giving up the day job to become a day trader.

[jimmy c] 12/12/2007 16:10

tsmith how did u know??

[taffee] 12/12/2007 16:09

many shares slaughtered across the market for no real reason.Ashtead will be next to be taken over.

[tsmith2] 12/12/2007 16:09

I hear the right side 80p as a min

did say the price was being manipulated!!!!

[pachandl] 12/12/2007 16:04

I don't think I have ever bought a share where a possible bid has come in on the same day as my purchase. I shall go home and crack open the champagne - or, more likely, wait to see whether the share price does recover.

[ibs7491] 12/12/2007 16:02

burn the shorters!!!

[jimmy c] 12/12/2007 16:01

blimey was that a shorter panicing?? Looks like TW's words have found their way onto the market. Somebody just bought all the shares in the book!!

[tsmith2] 12/12/2007 16:01

Northgate Info Solns Statement of possible offer




RNS Number:7778J
Northgate Information Solutions PLC
12 December 2007



NOT FOR RELEASE IN OR INTO ANY JURISDICTION WHERE TO DO SO MIGHT VIOLATE THE
LAWS OF SUCH JURISDICTION

12 December 2007

FOR IMMEDIATE RELEASE


Northgate Information Solutions plc ('Northgate'):
Statement regarding possible offer and debt facilities clarification


The Board of Northgate Information Solutions plc announces that it has received
an approach which may or may not lead to an offer being made for the whole of
the issued share capital of Northgate. A further announcement will be made in
due course.

In addition, Northgate has noted inaccurate market commentary concerning its
debt facilities. Committed facilities amount to £513m and the group's net debt
stood at £416m at 31st October 2007. These committed facilities provide the
Group with around £100m of head room for working capital and acquisitions over
the remaining 4.5 years of the current facility. The company is trading
comfortably within its covenants.

Within these committed facilities are two covenant tests. The first test relates
to the ratio of net bank debt to earnings before interest, tax, depreciation and
amortisation ("EBITDA") and the second test relates to EBITDA as a ratio of bank
interest payable. The former is calculated on a pro forma basis, utilising a
full twelve months of trading for any businesses acquired in the previous year,
whilst the latter ratio uses statutory reported results. Both covenant tests are
based on the Group's accounting policies as agreed with its banking partners.

In accordance with Rule 2.10 of The City Code on Takeovers and Mergers (the
'Code'), Northgate confirms, that it has 582,447,418 ordinary shares of 10 pence
each in issue and admitted to trading on the London Stock Exchange under ISIN
code GB0005583728.


Dealing Disclosure Requirements

Under the provisions of Rule 8.3 of the Code, if any person is, or becomes,
"interested" (directly or indirectly) in 1% or more of any class of "relevant
securities" of Northgate, all "dealings" in any "relevant securities" of
Northgate (including by means of an option in respect of, or a derivative
referenced to, any such "relevant securities") must be publicly disclosed by no
later than 3.30 pm (London time) on the London business day following the date
of the relevant transaction. This requirement will continue until the date on
which the offer becomes, or is declared, unconditional as to acceptances, lapses
or is otherwise withdrawn or on which the "offer period" otherwise ends. If two
or more persons act together pursuant to an agreement or understanding, whether
formal or informal, to acquire an "interest" in "relevant securities" of
Northgate, they will be deemed to be a single person for the purpose of Rule
8.3.

Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant
securities" of Northgate by the offeror or Northgate, or by any of their
respective "associates", must be disclosed by no later than 12.00 noon (London
time) on the London business day following the date of the relevant transaction.

A disclosure table, giving details of the companies in whose "relevant
securities" "dealings" should be disclosed, and the number of such securities in
issue, can be found on the Takeover Panel's website at


"Interests in securities" arise, in summary, when a person has long economic
exposure, whether conditional or absolute, to changes in the price of
securities. In particular, a person will be treated as having an "interest" by
virtue of the ownership or control of securities, or by virtue of any option in
respect of, or derivative referenced to, securities. Terms in quotation marks
are defined in the Code, which can also be found on the Panel's website. If you
are in any doubt as to whether or not you are required to disclose a "dealing"
under Rule 8, you should consult the Panel.




!!!!!!!!!!!!

[tsmith2] 12/12/2007 15:54

Nimrah - 12 Dec'07 - 15:39 - 5494 of 5501


Shares in Northgate IS (NIS) have tanked today and I have had a flood of emails. Apparently a note from Numis suggests that the company may break its banking covenants. I have spoken to those close to Northgate and this is utter cobblers. I would point out that first half cashflow cover was two times and that this is a second half weighted business so full year cashflow cover is likely to be closer to 3 times. Interest rates are falling and Northgate is generating cash so can reduce its debts. So cashflow cover will increase next year. I would expect Northgate to have to formally comment on a note which contains basic errors pretty soon.

You can panic as some investors are doing. Go ahead and sell at 45.5p on an April 2008 PE of 7 falling to 6. If you wish to panic go ahead. It is your decision to sell a stock which is grossly undervalued because of a short term panic based on analysis which the company says is inaccurate. You can choose to believe that the team which has transformed Northgate from a near bust tiddler to a FTSE 250 growth stock just cannot add up. That would be your call.

Or you can not panic you can note that the shares are very cheap and buy some more. I suggest that you do the latter. The stance is "buy."

[mjbrown1980] 12/12/2007 15:51

It is going bust!!!

[tsmith2] 12/12/2007 15:47

pachandl

re read the post

"I would expect Northgate to have to formally comment on a note which contains basic errors pretty soon."

stone and TW have known each other for a very long time.

[norniron] 12/12/2007 15:44

just bought back in 46.5p. This share has been very good to me having originally bought in at 18p about 4 to 5 years back and topped up at prices up to 45p. Had to sell in may not thinking i would be able to get in at such a low price. Think this company is totally unloved by the city.

[pachandl] 12/12/2007 15:44

Ts - agreed - but a comforting rns is the norm when an share price tanks for no apparent reason.